Interim Report – January to September 2018

2018-11-16

Affibody Medical AB (publ) (“Affibody” or “the Company”), a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™, today issued its Interim Report for the third quarter 2018.

Financial Highlights

Revenue for the 3rd Quarter 2018 amounted to SEK 25.6 (30.4) m, and to 85.1 (87.7) m for the full nine-month period

Operating result for the quarter amounted to SEK -58.0 (-22.5) m, and to -103.8 (-39.9) m for the full nine-month period

Net result for the quarter amounted to SEK -57.4 (-22.4) m, and to -103.4 (-39.7) m for the full nine-month period

Cash flow for the quarter amounted to SEK -30.6 (22.1) m, and to -85.3 (-14.1) m for the full nine-month period

Cash and cash equivalents at the end of the period amounted to SEK 156.1 (112.9) m.

Significant Events during the Reporting Period

In September 2018, it was announced that that a major Nordic study (“Affibody-3”) will begin using Affibody’s PET imaging agent ABY-025. The study is a multicenter investigator led clinical Phase II/III study with [68Ga] ABY-025. In total, 120 women with breast cancer from 7-8 hospitals in Sweden, Denmark and Finland will be included in the study.

Significant Events during the rest of the Year

A Clinical Trial Application (CTA) for a multicenter investigator led clinical Phase II/III study with [68Ga] ABY-025 in Sweden, Denmark and Finland, was submitted in April, 2018 to the Medical Product Agency (MPA)

A 100 patient multicenter Phase II study of ABY-035 in Germany, commenced in March 2018

A Phase I proof-of-principle study of ABY-039 in the UK, commenced in March 2018

The rights issue of shares resolved at the EGM on November 23 2017, completed in January 2018, was fully subscribed for with corresponding proceeds of SEK 199m